Abstract:
Keynes’s The General Theory of Employment, Interest and Money,published in 1936 and it has been 80 years.Since then, the debate on “The General Theory” caused continued and has not subsided. It does have lasting value in the history of economics. The theoretical value of Keynes’s revolution is mainly reflected in 6 aspects: opened up a new frontier of economic research, consumption function theory replaced Say’s Law, originally created theory paradigm of Macroeconomics, cleared put forward economic operation has its natural range, first proposed Nonneutrality of Money and Exogenous Money Supply Theories, and advocated “mixed economy” and state intervention. Among them, the revolution of the traditional money quantity theory that first proposed Nonneutrality of Money and Exogenous Money Supply Theories had an important position in the Keynes revolution,which was the “joint point” of the Keynes revolution. The realistic significance of Keynes’s revolution lies in its “cognitive function”, it was the “lens” and “microscope”, which can help us to understand the situation of China and the global economy rationally: in China, it has been difficult for the traditional economic growth model which reliance on investmentdriven has been difficult to continue, it has a long way to go in the economic transformation has a long way to go; In a global, we must draw lessons from the Japanese experiences rationally understand the dollar hegemony.
